NAVIGATION

What is PIIA Agreement?

Definition

PIIA Agreement

A Proprietary Information and Inventions Agreement (PIIA) is a legal document signed by founders, employees, and contractors that automatically assigns all intellectual property (IP) created during employment to the company.

Detailed Deep Dive

Frequently Asked Questions

Q:Why is a signed PIIA required for venture capital due diligence?

Investors require PIIAs to verify that the startup owns 100% of its codebase, patents, and trade secrets free of claims from former employers or contractors.

Q:What should be listed in the prior inventions schedule of a PIIA?

Founders and employees must list any IP or side projects created prior to joining the company to explicitly exclude them from automatic company assignment.

Quick Facts

CategoryLegal
Key ApplicationSecuring company IP defensibility before institutional due diligence

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Related Startup Terms

Cap Table Delaware C-Corp SAFE Agreement (Simple Agreement for Future Equity)

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